Individuals, small companies, and enterprises often don’t have the right tools, legal or coding skills, all this requires the support of time wasting and expensive intermediaries like banks, lawyers and escrows.
In order to avoid this, a new startup, Confideal, aims to bring the power of blockchain technology in every contract people make securing the highest level of protection and efficiency. It does it via a blockchain-powered technology platform that enable users to create, manage and enforce Ethereum smart contracts without any coding skills. The solution also features an in-built arbitration module which allows users to resolve disputes picking the top rated arbiters without any need to reveal personal data.
Data is encrypted and protected by the Ethereum blockchain that guarantees the immutability of the terms of the deal, when no personal information is revealed even in the process of arbitration.
The stack has several use cases.
Individuals can leverage it to sell online services, to lend an apartment with a smart lock, escrow for deals with real estate, lease cars, and use cryptocurrency as collateral.
Small business can use it for internal and international trade, automatic royalty payments, order services from agencies and for offline services.
Large enterprise can use it to deliver containers, for internal deals and long-term contracts with delayed or step-by-step payment, chained
(derivatives) and multilateral contracts.
Confideal can also serve the needs of online business for online services, e-commerce, and affiliate systems and of the crypto community to issue ERC20 tokens, make TGE (ICO), contracts, cryptocurrency bails for fiat credits and order mining equipment.
Following a pre-ICO conducted earlier in August, which raised $650k and attracted interest for the product, the company decided to launch its Initial Coin Offering, a token sale slated to begin on November, 2nd, 2017.
The new funds raised via the ICO will be used for product development & maintenance, business growth and development, marketing and customer development as well as for reserve, operations and legal.